Segro acquires 90% stake in Vailog

Real estate investment trust Segro has completed the acquisition of a 90% stake in Italian logistics real estate development company Vailog Srl.

Late last month, the FTSE 250 group said it had agreed a £28.1m deal with FBH Spa, Vailog's majority stakeholder, which would see it establish a strategic big box warehouse and operating platform in the north Italy's logistics market.

“Northern Italy is one of the major Continental European logistics markets, benefiting from a strong manufacturing heritage and an affluent population," group chief executive David Sleath said in May.

Segro shares were up 1.35% to 420.00p at 15:49 on Tuesday.